Overview

• President Trump announced plans to significantly lower tariffs on Chinese imports, though they will not be eliminated entirely, aiming to ease economic disruptions and market volatility.
• Twelve U.S. states filed a lawsuit challenging the Trump administration's authority to impose tariffs, arguing it overstepped congressional powers and harmed the economy.
• Chinese officials denied the existence of active trade negotiations with the U.S., calling claims of progress baseless and demanding the removal of all tariffs for meaningful dialogue.
• Major U.S. retailers, including Walmart and Target, warned Trump about supply chain disruptions and rising prices, prompting a reconsideration of the high tariffs.
• Economists highlighted global challenges, with Spanish exporters struggling to diversify away from the U.S. market and facing barriers in alternative regions like China and the EU.